CryptoQuant says bitcoin profit-taking could increase further amid ‘bear market rally’
60-second summary
CryptoQuant warns that bitcoin profit-taking could increase further amid a 'bear market rally', as holders take advantage of the recent price surge. Approximately 1.2 million bitcoin have been transferred to exchanges, indicating potential selling pressure. This trend may delay a correction, but could also lead to a deeper price drop, impacting investor sentiment and market stability.
Bitcoin holders are increasingly taking profits after the rally, though a correction may still take time to materialize, CryptoQuant said.